Strs Ohio Makes New Investment in Banco Bradesco SA $BBD

Strs Ohio purchased a new stake in Banco Bradesco SA (NYSE:BBD) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 836,291 shares of the bank’s stock, valued at approximately $1,865,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Aprio Wealth Management LLC purchased a new position in Banco Bradesco during the 1st quarter valued at about $25,000. Simplicity Wealth LLC bought a new position in shares of Banco Bradesco in the first quarter valued at approximately $26,000. Dorsey & Whitney Trust CO LLC bought a new position in shares of Banco Bradesco in the first quarter valued at approximately $26,000. BSW Wealth Partners purchased a new position in Banco Bradesco during the first quarter valued at approximately $29,000. Finally, Merit Financial Group LLC bought a new stake in Banco Bradesco during the 1st quarter worth approximately $37,000.

Wall Street Analysts Forecast Growth

Separately, Citigroup raised shares of Banco Bradesco from a “hold” rating to a “buy” rating in a report on Wednesday, May 28th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $2.40.

Banco Bradesco Trading Up 0.9%

Shares of Banco Bradesco stock opened at $3.21 on Wednesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.11 and a quick ratio of 1.11. Banco Bradesco SA has a 1 year low of $1.84 and a 1 year high of $3.24. The firm has a market cap of $34.16 billion, a PE ratio of 9.17, a PEG ratio of 0.44 and a beta of 0.76. The company has a 50 day simple moving average of $2.95 and a two-hundred day simple moving average of $2.68.

Banco Bradesco (NYSE:BBD) last posted its quarterly earnings data on Wednesday, July 30th. The bank reported $0.10 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.10. Banco Bradesco had a net margin of 9.76% and a return on equity of 12.96%. The company had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $32.70 billion. Analysts expect that Banco Bradesco SA will post 0.37 earnings per share for the current fiscal year.

Banco Bradesco Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, October 8th. Stockholders of record on Wednesday, September 3rd will be issued a $0.0035 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Wednesday, September 3rd. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s dividend payout ratio (DPR) is currently 8.57%.

About Banco Bradesco

Banco Bradesco SA, together with its subsidiaries, provides various banking products and services to individuals, corporates, and businesses in Brazil and internationally. The company operates through two segments, Banking and Insurance. It provides current, savings, click, and salary accounts; real estate credit, vehicle financing, payroll loans, mortgage loans, microcredit, leasing, and personal and installment credit; overdraft and agribusiness loans; debit and business cards; financial and security services; consortium products; car, personal accident, dental, travel, and life insurance; investment products; pension products; foreign currency exchange services; capitalization bonds; and internet banking services.